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Crude oil futures fell by 0.76% to Rs 4,716 per barrel today as speculators trimmed positions amid a weakening trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in December traded lower by Rs 36, or 0.76%, to Rs 4,716 per barrel in 3,598 lots.
In a likewise manner, oil for delivery in far-month January next year moved down by Rs 36, or 0.75%, to Rs 4,749 per barrel in 138 lots.
The trading sentiment eased at futures trade after crude oil prices fell in Asian trade today as dealers bet that the OPEC cartel is unlikely to agree on any cuts at a key output meeting this week, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for January next year delivery was down three cents to $75.75, while Brent crude for January 2015 fell 9 cents to $79.59 a barrel on the New York Mercantile Exchange in mid-morning trade.
